Bigger than Dallas

Fri Sep 1, 2006

Texas hedge funds have hit a gusher, and—guess what—it's not all oil.

Lee Ainslie, John Arnold, T. Boone Pickens, Clint Carlson, Sid Bass, Richard Rainwater, Sam Wyly

By Josh Friedlander

Dallas has long been considered the old money capital of Texas, and in few places is this financial sophistication more apparent than at the Crescent Court complex, a lush paean to the oil wealth that financed its construction and the money managers who crowd its cavernous halls. Housed within the Crescent's faux château exterior of slate rooftops and gray limestone siding is one of the greatest concentrations of hedge funds and investors in any one office complex anywhere in the world.

Texans are known for doing things big, and Crescent Court is no exception. HBK Investments, the $10 billion multistrategy firm - and Texas' largest - occupies 60,000 square feet on two floors of the Crescent, which contains 1.1 million rentable square feet in total. Other tenants include the entire back office and some...

ISSN: 2151-1845 / CDC10004H

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